One of the most important aspects of selling a home is pricing it correctly! Read a few reasons below about the importance of pricing your home right THE FIRST TIME!
1. Buyers may not see your home! By overpricing, you risk potential serious buyers missing your home! They are searching within a certain price range and your home will never pop up on their radar if it isn't in the range they are searching.
2. Real estate agents will use your home to sell their clients another home! Here's how this works. An agent may say to his client, "Mr. and Mrs. Buyer, you can see this home for $199,000 ...or you can see this other comparable home two blocks over for $179,000 ... with all of the same amenities".
3. Your home will sell for less than it would have, had it been priced right from the beginning! There are many reasons for this. The main one is that the optimum time to sell a home is in the first 21 days on the market. After that, and especially after the first few months, buyers begin to wonder why the home hasn't sold and tend to make lower offers. You will also have to start reducing the price of the home to attract interest.
5. You will get very frustrated! Let's face it ... keeping a home in great "showing" condition and having strangers tour your
property all of the time is emotionally taxing and time consuming. The longer you have to do it without actually selling the property, the more frustrated you will become. Ultimately selling your home for less than you planned will only serve to further aggravate the situation.
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**You can also head over to my "Buyer and Seller Tips" page to find out more information on how to prepare to sell/purchase a home.**